Combination Creates the Largest Network in Healthcare Connecting 180,000 Physicians, 1,500 Hospitals and 10,000 Post-Acute Organizations
Establishes Market Leader Focused on Enabling a Connected Community of Health
NEW YORK, Sept 01, 2010 /PRNewswire via COMTEX/ — Allscripts (Nasdaq: MDRX) today will announce in a ceremony at the NASDAQ MarketSite in Times Square the completion of the merger of Allscripts-Misys Healthcare Solutions, Inc. with Eclipsys Corporation. The combined company, Allscripts Healthcare Solutions, Inc. (Allscripts), launches with a focus on helping healthcare providers nationwide collaborate through connected healthcare communities, enabling improved patient care at lower cost.
Allscripts is one of the largest companies focused exclusively on healthcare information technology, with over 5,500 employees and combined 2009 pro forma revenues of approximately $1.2 billion. It brings to market a complete portfolio of clinical, financial, analytics and connectivity solutions, and a client base of 180,000 physicians, 1,500 hospitals and 10,000 nursing homes, homecare agencies and other post-acute organizations – the largest network in healthcare.
The company addresses a significant problem in the U.S. healthcare system – the widespread lack of information connectivity – which makes it difficult for providers in hospitals, physician offices, nursing homes and other care settings to access and share information that is vital to delivering patient care. For instance, only about 12 percent of US hospitals had a basic Electronic Health Record (EHR) in place in 2009, according to a study published this August by researchers from the Harvard School of Public Health. The situation is similar in physician practices and post-acute settings nationwide.
“Every healthcare CIO faces the challenge of integrating ambulatory, acute care and often post-acute systems to ensure that critical clinical information is available in every care setting,” said Stephan D. O’Neill, Vice President of Information Systems for Hartford Hospital in Hartford, Conn., which uses the Sunrise Enterprise(TM) solution in its hospitals, and the Allscripts ambulatory solutions in its physician practices and home care agencies.
Mr. O’Neill continued, “By bringing together the best products in all three care settings, Allscripts has allowed us to introduce a new model of coordinated care with all of the information systems working together on one platform. Whatever setting providers are working in–whether it’s the physician’s office, the Emergency Room, the hospital or a home care agency–they have the information they need to deliver the best care.”
By connecting physicians, nurses and other healthcare professionals to vital, real-time information provided by its own and third-party systems, Allscripts also will have the unique ability to deliver a single patient record available at any time to providers across care settings. As a result, healthcare providers are empowered to make more informed care decisions, work as a more efficient care team, and deliver world-class outcomes.
“Our vision is to create a connected community of health to put the right information in the hands of all stakeholders at the right time, empowering them to deliver world-class outcomes, for both their patients and their organizations,” said Glen Tullman, Chief Executive Officer of Allscripts.
“No company has a larger footprint in healthcare, crossing the entire spectrum of provider organizations from hospitals to physicians to nursing homes, home care agencies and other post-acute providers,” Mr. Tullman continued. “When you combine the size of our network with our ability to deliver an integrated solution set for all settings and to connect to any third-party system through our Helios connectivity platform, Allscripts is making it easy for providers to collaborate. We think the result will be what we all want – better care delivered more cost effectively.”
The new Allscripts enjoys a number of important distinctions in the market, including:
- A complete portfolio of market-leading solutions for hospitals including the Sunrise Acute Care suite of solutions, used by more hospitals with over 200 beds than those of any other company; the Helios line of connectivity solutions; the portfolio of Enterprise Performance Management(TM) solutions; and the Allscripts Care Management and discharge management solutions.
- Clear leadership in the hospital market, with 100 percent of the hospitals on US News & World Report‘s 2010 America’s Best Hospitals Honor Roll using one or more Allscripts solutions.
- The most widely used set of solutions for physician practices of all sizes, including Electronic Health Record (EHR), ePrescribing, Practice Management and Revenue Cycle solutions.
- The most complete set of post-acute care solutions helping skilled nursing facilities, homecare agencies and other extended care organizations to easily capture electronic patient referrals from hospitals and to automate many of their clinical and administrative functions.
- A modern technology platform, leveraging Microsoft.NET and other advanced technologies, that enables the delivery of an integrated hospital and physician practice offering.
- An ‘open architecture’ approach, simplifying the connection to third-party applications across every care setting, resulting in a single patient record.
- An ‘industrial strength’ management team that led Allscripts to be named the 22nd fastest-growing company in the world in 2010 by Fortune magazine; the 14th fastest-growing company in terms of profit growth since 2007. (source: Fortune‘s “Top 100 Fastest Growing Companies of 2010”).
- The scale, solutions and proven ability to drive provider utilization – all critical elements that are requirements to help American physicians and hospitals access the approximately $30 billion in federal funding for hospital and physician adoption of Electronic Health Records (EHR) provided by the American Recovery and Reinvestment Act (ARRA).
“With the opportunity to qualify for ARRA funding just months away, we expect that more hospitals and physicians will look to Allscripts as the Electronic Health Record company best able to connect them to the entire community of care,” said Phil Pead, Chairman of the Board of Allscripts and the former Chief Executive Officer of Eclipsys. “There is a level of excitement from both the market and from our clients that we are now positioned to make the connected community of health a reality for providers and patients.”
As the leader in driving full utilization of Electronic Health Records by both hospital and physicians, Allscripts has the experience and resources to quickly help its clients achieve “meaningful use” – the criteria that physicians and hospitals must satisfy in order to qualify for federal funding under ARRA.
To learn more about the new Allscripts, visit https://www.allscripts.com/.
Allscripts (NASDAQ: MDRX) provides innovative solutions that empower all stakeholders across the healthcare continuum to deliver world-class outcomes. The company’s clinical, financial, connectivity and information solutions for hospitals, physicians and post-acute organizations are the essential technologies that enable a connected healthcare community. To learn more about Allscripts, please visit https://www.allscripts.com/, Twitter, Facebook and YouTube.
This press release contains forward-looking statements within the meaning of the federal securities laws. Statements regarding future events or developments, our future performance, as well as management’s expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements with the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.
Such risks, uncertainties and other factors include, among other things: the possibility that the expected synergies, efficiencies and cost savings of the merger with Eclipsys Corporation (“Eclipsys”) will not be realized, or will not be realized within the expected time period; potential difficulties or delays in achieving platform and product integration and the connection and movement of data among hospitals, physicians, patients and others; the risk that the Allscripts and Eclipsys businesses will not be integrated successfully; competition within the industries in which we operate; failure to achieve certification under the Health Information Technology for Economic and Clinical Health Act could result in increased development costs, a breach of some customer obligations and could put us at a competitive disadvantage in the marketplace; the volume and timing of systems sales and installations, the length of sales cycles and the installation process and the possibility that our products will not achieve or sustain market acceptance; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; competitive pressures including product offerings, pricing and promotional activities; our ability to establish and maintain strategic relationships; undetected errors or similar problems in our software products; the outcome of any legal proceeding that has been or may be instituted against us; compliance with existing laws, regulations and industry initiatives and future changes in laws or regulations in the healthcare industry, including possible regulation of our software by the U.S. Food and Drug Administration; the possibility of product-related liabilities; our ability to attract and retain qualified personnel; the implementation and speed of acceptance of the electronic record provisions of the American Recovery and Reinvestment Act of 2009; maintaining our intellectual property rights and litigation involving intellectual property rights; risks related to third-party suppliers and our ability to obtain, use or successfully integrate third-party licensed technology; and breach of ours security by third parties. See our Annual Report on Form 10-K for the fiscal year ended May 31, 2010 and other public filings with the SEC for a further discussion of these and other risks and uncertainties applicable to our business. The statements herein speak only as of their date and we undertake no duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations.
SOURCE Allscripts Healthcare Solutions, Inc.